Polygon Records Over 161 Million Inscriptions, Surpassing BNB and Avalanche
Polygon co-founder Sandeep Nailwal shared on X that the blockchain has recorded over 161 million inscriptions, surpassing BNB and Avalanche. Nailwal emphasized that Polygon’s gas fees remained low, while other networks experienced skyrocketing fees. Data from the DUNE dashboard showed Avalanche’s substantial gas fees, with inscriptions on Avalanche costing over $150,000 compared to Polygon’s mere $29. The increase in gas fees on Avalanche was attributed to BEEG minting. Despite the network issues, Avalanche’s market trend remains positive, with its price exceeding $40 and a surge in daily active users and revenue. Scalability solutions will play a crucial role in addressing these challenges.
Hot Take: Polygon Leads in Inscriptions and Low Gas Fees
Polygon’s achievement of over 161 million inscriptions showcases its dominance in the blockchain space. With gas fees remaining under 10 cents, Polygon provides a cost-effective solution for crypto users. In contrast, other networks like Avalanche experience significantly higher fees. While Avalanche has seen positive market trends and increased user activity, the network congestion and rising fees highlight the importance of scalability solutions moving forward. As the demand for EVM chains continues to grow, addressing these challenges will be crucial for the long-term success of blockchain technology.